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US economy shrank by 0.6 percent in second quarter — signaling recession
[NYPOST] The economy shrank by 0.6% in the second quarter compared to the same period last year — the second consecutive quarter that the nation’s gross domestic product contracted, thus signaling the onset of a recession, according to the latest data.The US Commerce Department issued a revised reading of second-quarter figures on Thursday — nearly a month after its initial report measured a 0.9% contraction compared to the year prior, Fox Business reported. In the first quarter of this year, GDP fell by 1.6% — the worst-performing quarter since the spring of 2020. At the time, much of the country was in lockdown due to the spread of the coronavirus (aka COVID19 or Chinese Plague)  ...the twenty first century equivalent of bubonic plague, only instead of killing off a third of the population of Europe it kills 3.4 percent of those who notice they have it. It seems to be fond of the elderly, especially Iranian politicians and holy men.... Posted by: Fred 2022-08-27 |
| http://www.rantburg.com/poparticle.php?ID=642367 |